Samer Choucair: SAR 2.7 Billion Diriyah Contract Reflects Investor Confidence in the Saudi Economy
Entrepreneur Samer Choucair said the SAR 2.7 billion contract awarded to a consortium comprising Hassan Allam Holding and UCC Holding to develop the mixed-use Waldorf Astoria complex in Diriyah reflects the continuing investment momentum generated by Saudi Vision 2030 and confirms the growing appeal of major tourism and real-estate projects to regional and international investors.
Choucair explained that the project, located within the wider Diriyah development master plan, will include a Waldorf Astoria hotel, luxury residences, and commercial and office space.
It forms part of the strategy to develop one of Saudi Arabia’s most prominent historical and tourism destinations, strengthening the Kingdom’s position on the global tourism map.
Samer Choucair noted that major contracts connected to Diriyah projects reflect more than the scale of capital expenditure. They demonstrate the existence of a long-term vision aimed at building a more diversified economy supported by tourism, culture, and hospitality alongside traditional sectors.
He added that this provides institutional investors with greater visibility regarding the sustainability of investment opportunities in Saudi Arabia.
Choucair said luxury hospitality projects have become among the most attractive sectors for capital, supported by expected growth in visitor numbers, the expansion of international events, and continuing infrastructure development.
These factors strengthen the potential for long-term operating and investment returns.
He emphasized that regional partnerships among Arab companies represent one of the principal drivers of successful megaproject implementation.
Collaboration between businesses with extensive construction and development expertise improves execution efficiency and strengthens competitiveness within the Saudi market.
Samer Choucair noted that investors are increasingly focusing on asset quality and alignment with projects supported by clear development plans, rather than considering contract size alone.
This makes Diriyah one of the region’s most prominent investment destinations for the coming years.
He explained that the continuing implementation of Vision 2030 projects creates promising opportunities across construction, hospitality, logistics, and real estate.
It also supports the attraction of additional foreign direct investment and strengthens Saudi Arabia’s position as a regional economic and tourism centre.
Concluding his remarks, Samer Choucair emphasized that investment in mixed-use developments combining heritage, tourism, and hospitality represents one of the most important future investment trends.
He said Saudi Arabia is continuing to build an economic ecosystem capable of attracting capital and delivering sustainable long-term growth.